Buhari writes National Assembly, seeks $5.5bn fresh loan

The National Assembly had in April this year approved N850bn domestic loan request of the President, to finance projects in the 2020 budget.

Surprisingly on Thursday again, Buhari sent another external loan request of $5.513bn to the two chambers of the federal parliament. He said it became imperative for the funding of the revised 2020 budget and insulating the nation’s economy from the yet-to-be-abated COVID-19 pandemic. “Nigeria has also been affected in this regard, especially with the lower demand for crude oil, which has affected our sales and the sharp decline in the price of oil below $25 per barrel, which is much lower than the $57 per barrel benchmark in the 2020 Appropriation Act.“All of these have necessitated a review of the 2020 Budget and the Medium-Term Expenditure Framework .

Addressing journalists after the plenary, the Chairman, Senate Committee on Media and Public Affairs, Dr Ajibola Basiru, said the loan request was in order because it was targeted at specific projects. He said, “Debt servicing is a cost of the funds you have raised. For the economists, it is a question of whether the cost of funds is justified by the value you get for what you are raising.

INPEACH MR PRESIDENT FOR UNECESSARY BORROWING.WHAT NONSENSE,SO TO BORROW MONEY N PUT NIGERIANS IN DEPTH IS D ONLY AGENDA OF MR PRESIDENT.WELDON SIR.

We are supposed to take care of each foreign loans

This bubu president is seeking d death of Nigeria economically b4 he leaves office o.

What are these loans used for🤔🤔🤔

One day this man sell this country out completely..the only thing his led govt can do best is to borrow and borrow.....

WHEN SARAKI WAS THERE WHO BORN BABA ALWAYS SLOW TO BORROW.THUNDER DO UR WORK

Borrow borrow President. Ostrich.

OMG

And SARs will not look into this matter..original yahoo boy..

This NigeriaGov has made borrowing look like an economic strategy. clueless inept docile

Onigbese ni man yi sha🙄

Any time presido writes the Senate just know that borrowing must be involved. Small small Mr integrity

borrow no de tire u

Again smh

This man's aim is to crumble Nigeria when a new president comes into power. I have never seen a president so clueless. Same with the senate president who even gives the permission in the first place. Rubbish

nassnigeria approved it without asking questions please. ገጀአጀሸፈየከበአደገነሸጨረለበአፈጀ አፈጀመጨፈተመጨአሀ ጨሀሀጀበአገጀበአፈፈረከነአደረ በአዘሰገቀጀለነጨገጀመነ በገተፈፈሀከከመ. That is all I have to say for now.

As ridiculous as this request seems, you will be surprised that House of Assembly will approve it. So what's more ridiculous? We don't even understand the level of damage we're dealing with here. It's an organized.......

What is he even doing with all this loans? Now i see why they did everything possible to make sure bukolasaraki was out of the way

onyeoma na loan

Lengend of the seeker..

We should look at how we generate funds internally and not getting loans every day.

Oga please when are we going to pay back all of these loan?

Wai Dan Allah bakasan Halinda mutane suke cikiba Allah fa yanagani wallahi zaitambayeka Annabi yace wata ta daure mage bata bata binciba Allah yakonata barekaida kakulle mutane

This perpetual borrowing we lead us into bottomless pit we will never see the sun again. The behind the scenes, the puppet masters .

I hope the presidency has considered both the macroeconomic effect and financial implications of this loan they seek? What are the critical sectors that need these loans and I hope they will be getting the loan within?

Abeg broda Buhari jus tell us d day weh u go sell Nigeria

Terrible

Again

This guy and loan Sha! I'm not surprised, he borrowed to buy his party's nomination form. The handwriting was on the wall from inception

🤣🤣🤣 I can only laugh.

Very soon he go borrowe Nigeria

It is titilating titivating to juxtapose the cohesive financial misappropriation of the presidency.

The 55 billion they recover from ioc's nko ....oga ooo

This man will sale this country before 2023...

Is Nigerians National Assembly a robberstamp Assembly of the Executive branch of Government? Loan every 2weeks.

Na this borrowing matter we dey try settle since yesterday ooo

This man Sha, he wan break Abacha record

This is the worst leadership ever!

Wen I was telling people kpe this man no get head make we use Atiku. Dem say Atiku go sell nija. Waiting we go call this 1 now

Let them sell this country and give us our share... Lobatan!

Some people are flexing . Did you see the kind of machines on parade during the arewa Twitter Salah trend ? ... Are you really seeing what am seeing ? ...Lol

You guys haven't seen anything yet some of you will prefer Hell than Nigeria. Please enjoy your next level.

To do what? What does he want it form. I think the public should know...

I feel sad each time I read the news.

Keep borrowing but remember to pay back before leaving your office for the next person.

The problem is not who is borrowing, it lies in the hands of those that approve it without asking what the previous ones were used for. Sai baba/ next level.

Your only aim contesting for the seat of a President for 5 times was to sell this country,Please get it over with so you can rest.

Another loan For what exactly

Buhari teaching PDP looting basics

The hottest yahoo guy at the moment.. sinzu money..😂😂

I beginning to suspect that this administration has been infected with a financial disease called ' Continuous Borrowing Syndrome '. God please help this Nation..

Everytime loan when will we generate our own revenue

Can the national assembly just invite the shithead to come and defend his reason for the loan. Just for ones, invite him to defend this foolishness

Nah dis matter we dey try settle naw

The second name of pmb is Mr borrower ,he keeps on borrowing since is assumed office 2015 I wonder how much he Wii borrow before his tenure,whata pity

Buhari is dead and gone forever my dear.

This man doesn’t know wat he’s doing 😳

You people should stop repeating news.

Crazy..which generation go pay back this money

Just de borrow go o ijoba sinzu

This man just don't have a better plan for Nigeria...

IN GOD WE TRUST...🙌🙌🙌🙌 WE REFUSE TO GIVE UP ON THIS COUNTRY

Chai Omo this guy na joke shaaa hahaha

Not surprise, what do you expect, they will still brow more.

Is this Democracy news

Use some part of the loan and buy what we are selling Biko.

Almajiri government......

Loan will kill this country

To do what again What's the different between Buhari and GEJ when it comes to the cabinet manipulating?

Sinzu money🤣

Onigbese

The only thing he can write

The $5.5b wey bubu wan borrow again, Na de matter we still dey settle since yesterday o

What's this administration doing with all these loan?

I don’t think any President has taken much loan than MBuhari NGRPresident

Agba owo. Steady cashing out. Sinzu ti wa online.

Na only money dem dey talk about for this country. Massacre in Kaduna, Fulani Herdsmen, Boko Haram terrorists, no news about how to tackle it ..

Last time Obasenjo help us out who go help us this time

The loans we av already collected this goverment has no idea or plan on how to service those loans. Yet we keep collect more. This goverment has sold the entity known as nigeria to thier creditors. Modern day slavery.

Worst Nigeria President ever is Buhari

Buhsri the scam

Another Loan again? What happened to living within our means?

Collecting loans also subject Nigeria to international slavery and domination;making us slaves of commusts ....the problem is that Nigeria and the world don't use or understand money and that's why there's depression which the leaders are aware of

If the interest rate is very low, no wahala. As it stands now, Nigeria 🇳🇬 is seriously broke. Over 50 crude oil ships not sold even at the current price.

Na who go pay all this money wey buhari dey owe so? Soundstalgic DreamNigeria Homtut

This loan must never be granted by the house because it is making Nigerians to be poorer , collecting of loan only see wealth of the masses transfered to the politicians and the banks .... there's never any benefit of collecting loans

Sinzu The Money Spender

On this matter

You can write but can’t address the nation. Who is actually doing the writing? Who is actually burying this nation in debt? Let our president come out & hold a media conference to tell us that he is mentally & physically fit to lead. We must make sure that he is not a zombie.

Father Lord deliver us from the spirit of loans 🙏

He must always seek for money,all the one they have what good have they used it to do

Hahahah this guy is a clown walahi. How can you keep borrow ING money till death

Why does Nigeria keep Nigeria so financially plagued that she cannot borrow other counties money too. Can't our government take advantage of the close to 200 million manpower we are blessed with. Why are these people so myopic.

Some years back i told people that Nigerian will become collateral, now the prophecy is here

This President ehn just hope he will not use our country take loan from China one day ... God pls save my country from this buhari

Sinzu ma pawa na

You no dey tire to borrow? soon you go use our country do collateral

Almajari president...

Una go borrow our future finish ooh. How much this government go borrow before 2023 if only this year sef una don borrow like this.

That's the only thing he know how to do ... when is he going to address the nation on the incessant killings in the northern part of the country... Or is he no longer the C in C of the federal republic?

His will still enslaved Nigeria through loans

Baba Buhari Senior Yahoo

This man has been borowing money since he entered govt, does he want to sink this country, into financial debts which we will not be able to float up again?

This will sale this country ,what kind of a leader is this that see nothing bad in borrowing.

Ole!!!😤

Hope after this loan other countries Will start borrowing from us not to borrow again.

Please don't push us further into crippling debts. MBuhari NGRPresident

Nollywood family needs to write a and produce a movie of a blind lunatic is on the wheels driving sane and people with sight to wherever worse than hades. This is the case of our beloved Nigeria. Make Aki and paw and Mercy Johnson (Dumebi) feature. I go see the movie

Covetous avaricious and pribable hooligan, that's 'BUHARI'

Loan. What is all these. Is Nigeria a joke to you. Incurring loans up and down

One day we will wake up and here BREAKING NEWS... NIGERIA AS BEEN LOAN TO TOGO....

Una no need to Dey show us we already know say we don enter one chance

iamckice

This almajiri gov don’t have any shame , is it in their DNA to be borrowing or what

This man too get bastard courage. Sell Nigeria nah

Eyaa

all ds loans..are u really paying back?

Borrowing every month

Be loaning money like the way chelsea loan players

U know dey tire to dey borrow?

Who is going to pay all this debt, this generation or next generation to come... Lot of loans without result, we are running an audio government

Allamajiri President

Buhari and loan

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